Tonstakers

💬 Hi all! Today we bring you the third post from our Hitchhiker's #Guide to Liquid Staking. Soon there will be quite a lot of material and we will collect the table of contents in a separate post. 🗒 Introduction to TON blockchain 💳 Built for billions of users TON, short for The Open Network, is a Layer 1 blockchain that utilizes the Proof-of-Stake (PoS) consensus mechanism, which emphasizes achieving extensive scalability while ensuring a secure and decentralized network for transaction verification. TON is engineered with a future vision of accommodating dozens of billions of users. 💳 Key features of TON blockchain 1. Speed and Scalability: TON was designed to be a fast, secure, scalable blockchain project. Its multi-blockchain architecture was intended to enable the processing of millions of transactions per second, solving common scalability issues in other blockchain networks. 2. Smart Contracts: TON supports a sophisticated smart contract platform called TON Virtual Machine (TVM), allowing developers to create and deploy decentralized applications (DApps) with complex logic and programmable features. 3. Proof-of-Stake (PoS): TON utilizes a PoS consensus mechanism, where participants stake their tokens to become validators and contribute to block creation and transaction validation. Token holders can lend their funds to validators without needing to fulfill the requirements and technical expertise of being a validator themselves, thus contributing to network decentralization. In the next post we will write the same thing, but in simple words 😄

🗒 The Role of Staking in Proof-of-Stake Blockchains #Guide 💳 Validators and Block Creation Validators stake their tokens and operate the equipment to validate transactions and create new blocks. As we learned in the previous post, in PoS blockchains, the right to create a new block is determined by an algorithm. The selection of a validator to create the next block depends on various factors defined by the rules of the specific blockchain. Randomness is often used to ensure decentralization and prevent the dominance of a single participant or group. Participating in validation requires more than just launching and configuring a server — it also involves staking a certain amount of tokens by sending them from one's address to the smart contract address. Validators receive rewards for their participation in this process, and the tokens also serve as collateral, with penalties imposed in case of malicious behavior. 💳 So, what is staking? It is the provision of tokens to support operations in the blockchain and receive rewards. By staking tokens, users participate in transaction validation and block creation. They can run a server and special software or delegate their tokens to another participant who operates the equipment. We will provide details about the latter in upcoming posts.

🗒 Features of Proof-of-Stake Blockchains 💳 A Brief Overview of Proof-of-Work (PoW) The vast majority of people have heard about "cryptocurrency mining," which has become famous thanks to Proof-of-Work (PoW) blockchains. Mining is necessary to verify transactions and create new blocks. Participants compete to solve complex mathematical problems requiring significant computational power and energy consumption. However, miners are rewarded for their work with newly minted tokens. The most popular PoW blockchains are Bitcoin and Litecoin. 💳 How is Proof-of-Stake Different? Proof-of-Stake operates differently - instead of miners, validators verify transactions and create blocks. The right to create a new block (and receive a reward) is distributed by a predetermined algorithm, and participation requires staking tokens that act as collateral. This process requires less energy and computational power but requires a significant number of tokens for staking. Examples of PoS-based blockchains include Ethereum (which was previously PoW), Solana, Avalanche, Cosmos, TON, and many others. Unlike PoW, Proof-of-Stake offers an energy-efficient mechanism that ensures fast transaction confirmation and more significant scalability potential, reducing transaction costs and opening up new scenarios for innovation. #Guide

🆕 Liquid staking is a new product for a significant part of the TON community, so we have teamed up with The Daily TON to provide more information about the mechanism, benefits, and opportunities that the protocol offers to users in the ecosystem. 📈 The launch of Tonstakers is happening very soon, and in the meantime, we have prepared a series of educational articles that will cover important topics related to liquid staking - from the specifics of PoS blockchains to the challenges of staking in The Open Network. ❓ In the meantime, please share your experience with existing staking solutions in TON or other blockchains. #Guide

✈️ Hello, world! 👥 We are the Tonstakers team, and we are here to change the DeFi market in TON for the better! With Tonstakers' liquid staking, you will be able to get more out of your TON. 🆕 The release is planned for early July, which is very soon. In the meantime, we will introduce you to the world of liquid staking, talk about our protocol, and answer questions in the comments section - welcome 😃 🌐 Website: tonstakers.com 💳 Russian TG channel: @thetonstakers_ru 💬 Twitter: twitter.com/tonstakers 🗒 Medium: medium.com/@tonstakers

📊 Dive into Liquid Staking, an ingenious solution in the Proof of Stake (PoS) blockchain ecosystem. Through Liquid Staking, your tokens can do more, giving you the advantage of both staking rewards and liquidity! 🔃 Liquid Staking gives you the power to stake your tokens and keep their liquidity at the same time. Rather than locking your tokens in a staking contract and not being able to use them, the smart contract gives you something called liquid staking derivatives (or LSDs for short), which act as placeholders for your staked assets. These LSDs are very flexible - you can trade them freely, use them in different DeFi protocols, or even use them to buy NFTs! 🔃 When you want to end your staking position, you can swap your LSDs back to the original staked tokens. This adaptable way of staking makes sure you will take advantage of other chances in the crypto world AND still lets you get the staking rewards. ⭐ In a nutshell, Liquid Staking is a double win! It merges the advantages of staking and liquidity, giving you more financial freedom and the chance for bigger returns. So, why let your tokens be idle when they could be working for you? Jump into the exciting world of Liquid Staking and make the most of your assets!